Q3 2024 Earnings Forecast for Omnicell, Inc. Issued By Zacks Research (NASDAQ:OMCL)

Omnicell, Inc. (NASDAQ:OMCL) – Analysts at Zacks Research raised their Q3 2024 EPS estimates for Omnicell in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst M. Mondal now anticipates that the company will post earnings of $0.11 per share for the quarter, up from their previous forecast of $0.08. The consensus estimate for Omnicell’s current full-year earnings is $0.10 per share.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company lowered their price objective on Omnicell from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. Barclays assumed coverage on shares of Omnicell in a report on Wednesday, January 3rd. They issued an “underweight” rating and a $33.00 price objective for the company. Finally, Benchmark lowered their target price on shares of Omnicell from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.20.

Omnicell Stock Performance

NASDAQ:OMCL opened at $26.27 on Wednesday. The stock has a 50 day simple moving average of $27.76 and a 200 day simple moving average of $33.05. The stock has a market cap of $1.21 billion, a P/E ratio of -58.38 and a beta of 0.76. Omnicell has a 1-year low of $25.69 and a 1-year high of $77.14. The company has a current ratio of 2.52, a quick ratio of 2.22 and a debt-to-equity ratio of 0.48.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.22. The business had revenue of $258.85 million for the quarter, compared to analyst estimates of $256.00 million. Omnicell had a negative net margin of 1.78% and a positive return on equity of 3.43%.

Hedge Funds Weigh In On Omnicell

Hedge funds and other institutional investors have recently made changes to their positions in the company. Belpointe Asset Management LLC raised its position in Omnicell by 92.2% during the first quarter. Belpointe Asset Management LLC now owns 494 shares of the company’s stock valued at $29,000 after purchasing an additional 237 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Omnicell by 561.4% during the 3rd quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $25,000 after buying an additional 466 shares in the last quarter. Covestor Ltd raised its holdings in shares of Omnicell by 424.2% during the 1st quarter. Covestor Ltd now owns 844 shares of the company’s stock worth $109,000 after buying an additional 683 shares in the last quarter. KBC Group NV bought a new stake in shares of Omnicell during the 4th quarter worth $38,000. Finally, State of Wyoming boosted its stake in Omnicell by 25.7% in the second quarter. State of Wyoming now owns 1,053 shares of the company’s stock valued at $78,000 after buying an additional 215 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Omnicell Company Profile

Omnicell, Inc, together with its subsidiaries, provides medication management solutions and adherence tools for healthcare systems and pharmacies the United States and internationally. The company offers point of care automation solutions to improve clinician workflows in patient care areas of the healthcare system; XT Series automated dispensing systems for medications and supplies used in nursing units and other clinical areas of the hospital, as well as specialized automated dispensing systems for operating room; and robotic dispensing systems for handling the stocking and retrieval of boxed medications.